Global Sleep Apnea Devices Market (2020 to 2027) – Key Drivers and Challenges – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Sleep Apnea Devices Market, Global Forecast, Impact of COVID-19, Industry Trends by Device Type, Opportunity Company Overview, and Revenue” report has been added to ResearchAndMarkets.com’s offering.
As per the Analysis, the Sleep Apnea Devices Market was valued at US$ 5.2 Billion in 2020.It is likely that the Sleep Apnea Machines Market is expected to expand at a CAGR of 7.63% from 2020 – 2027.
Sleep apnea is a sleeping sickness that can be undoubtedly serious, wherein an individual’s breathing exhibits an irregular pattern. People with untreated sleep apnea encounter interrupted breathing in their sleep due to a shortage of oxygen dispense to the brain and the rest of the body parts. Today, sleep apnea is more common among elderly patients and people who are suffering from diabetes, hypertension, cardiovascular disorders. Further, to combat the condition named sleep apnea, the market has introduced equipment for managing sleeping apnea that facilitates breathing in patients suffering from sleep disorders.
The increasing prevalence of obesity and the rising geriatric population leads to a higher incidence of sleep apnea globally. The rise in incidence manifests a large patient pool requiring diagnosis and treatment for sleep apnea, driving the market’s growth. Ample provisions of undiagnosed patients, and government initiatives to promote diagnosis, are also expected to boost the demand for diagnostic devices and subsequently drive the market’s growth during the forecast period.
Restraints of Sleep Apnea Devices Market
- Certain determinants like the high cost associated with devices restrict the market’s growth.
- Similarly, in emerging countries like India, due to minimal medical coverage provided by public or private insurance companies, obstructs the development of the market in the region.
- The lack of awareness concerning obstructive sleep apnea (OSA) in emerging countries is a vital factor expected to restrain the market’s growth during the forecast period.
Device Type
In terms of device type, the global Sleep Apnea market is segmented into therapeutic devices and diagnostic devices. In the therapeutic device segment, Positive Airway Pressure (PAP) devices are the most common devices used to treat sleep apnea. For healthcare providers globally, amongst the PAP devices, Continuous Positive Airway Pressure (CPAP) devices are the favoured choice of therapy for OSA. The high potency of CPAP and other PAP devices in treating sleep apnea has been conducive to increase the adoption of therapeutic devices globally.
However, the diagnostic device segment is awaited to grow firm due to a large pool of undiagnosed patients and raising awareness about available diagnostic and treatment options for sleep apnea among the general population, especially in emerging countries.
Sleep Laboratories & Hospitals, and Home Care Setting
The market is segmented into Sleep Laboratories & Hospitals, and Home Care Setting/Individuals based on end-user. The rising adoption of therapeutic devices like CPAP and oral appliances are attributed to the market expansion of the Home Care Setting/Individuals Market. In addition, the increasing prevalence of sleep apnea, along with adequate reimbursement policies by the government for patients residing in the Home Care Setting/Individuals Market, is another significant factor supporting a higher percentage of patients being treated in these facilities. Contrarily, Sleep Laboratories & Hospitals amidst the pandemic suffered a market setback due to fewer patients being treated due to the nationwide lockdown.
COVID-19 Pandemic Impacts on this Industry
The outbreak of the COVID-19 pandemic has rigorously affected the management of sleep apnea patients worldwide. Several medical organizations like the European Respiratory Society and the American Academy of Sleep Medicine have recommended using telehealth and has provided guidelines to all sleep centres to postpone and reschedule the in-laboratory administration of PAP therapy and polysomnography, except in emergency cases.
For instance, as stated by the data published by the European Respiratory Journal, it has been observed that before a pandemic, laboratory-based PSG was performed regularly around 92.5% of centres. However, now this procedure is being performed only in 20% of centres of Europe.
Also, laboratory-based CPAP or bi-level therapy has been practised in numerous centres, but now less than one-fifth of these centres continued this routine. Thus, a reduction in these procedures among sleep centres can result in a decline in the diagnosis of new sleep apnea patients during the COVID-19 pandemic and can negatively impact the growth of the sleep apnea market in 2020.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Sleep Apnea Devices Market
6. Market Share Analysis
6.1 By Types
6.2 By End User
6.3 By Regions
7. Types- Sleep Apnea Devices Market
8. End User – Sleep Apnea Devices Market
9. Region – Sleep Apnea Devices Market
10. Company Analysis
10.1 CAREFUSION CORP. (Part of Becton, Dickinson And Company)
10.1.1 Overviews
10.1.2 Recent Developments
10.1.3 Revenues
10.2 Somnomed
10.2.1 Overviews
10.2.2 Recent Developments
10.2.3 Revenues
10.3 Resmed
10.3.1 Overviews
10.3.2 Recent Developments
10.3.3 Revenues
10.4 Imthera Medical, Inc. (Part Of Livanova Plc)
10.4.1 Overviews
10.4.2 Recent Developments
10.4.3 Revenues
10.5 Koninklijke Philips N.V.
10.5.1 Overviews
10.5.2 Recent Developments
10.5.3 Revenues
For more information about this report visit https://www.researchandmarkets.com/r/tz4g8u
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